Introduction Capital gains occur when you sell assets like stocks, real estate, or other investments for a profit. If you sell at a loss, you incur a capital loss,...
Introduction If you earn money from a side hustle, gig economy job, or freelance work, the IRS considers it taxable income. Many gig workers mistakenly assume that small side...
Introduction If you received income reported on a Form 1099 and failed to include it on your tax return, the IRS will likely detect the omission and may issue...
Introduction Social Security benefits may be taxable depending on your total income and filing status. Up to 85% of benefits can be subject to federal income tax if income...
Introduction Pension and annuity payments provide retirement income, but their taxation depends on how the contributions were made—whether pre-tax or after-tax dollars were used. This guide explains when pension...
Introduction Individual Retirement Accounts (IRAs) allow individuals to save for retirement with tax benefits. However, when funds are withdrawn, different tax rules apply based on account type (Traditional or...
Introduction Dividend income is a distribution of corporate profits to shareholders. The IRS categorizes dividends as ordinary or qualified, each subject to different tax rates. This guide explains how...
Introduction Dividends are payments made by corporations to shareholders as a return on investment. The IRS categorizes dividends into ordinary dividends and qualified dividends, which are taxed at different...
Introduction Interest income comes from bank accounts, bonds, and other financial instruments. The IRS distinguishes between taxable and tax-exempt interest, which affects how much tax you owe. This guide...
Introduction Dependent care benefits help working parents and caregivers pay for childcare and dependent care services. Many employers offer Flexible Spending Accounts (FSAs) or direct reimbursements for dependent care...